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Skepticism
51. Sampling risk is the risk that (Points: 4)
the sample will not contain characteristics representative of the
population such that inferences made about that population will be
incorrect.
the population will not contain characteristics representative of
the sample such that inferences made about that sample will be
incorrect.
Neither A nor B is correct.
Both A and B are correct.
52. The sample size varies directly with (Points: 4)
the expected failure rate.
the tolerable error rate.
the allowable risk of assessing control risk too low.
the nonsampling risk
53. The steps used in sampling during substantive testing includes the
determination of each of the following except (Points: 4)
the audit objective.
the method of selecting a sample.
expected misstatement conditions
control failure risk.
54. The design of a PPS sample requires the auditor to determine all of
the following except (Points: 4)